Banco Galicia raises US$ 250 million in the global capital markets

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Banco Galicia raises US$ 250 million in the global capital markets

One of Argentina’s largest banks, Banco de Galicia y Buenos Aires S.A., raised two hundred and fifty million Dollars in the international capital markets, through the issuance of Class II subordinated, resettable Notes, due on 2026.

The notes are listed on the Mercado de Valores de Buenos Aires S.A., on the Mercado Abierto Electrónico S.A. and on the Luxembourg Stock Exchange for trading on the Euro MTF market.

The issuance constitutes the first international transaction performed in Argentina under the regulations of the Basel III regulatory framework and as a subordinated bond, it constitutes Tier II Regulatory Capital of the Bank, as per current Argentine Central Bank Regulations.

The notes have a maturity of ten years and were issued at a fixed rate of 8.25 % for the first five years, a rate that is reset for the remaining five years.

Gibson, Dunn & Crutcher LLP and Tanoira Cassagne Abogados advised Banco de Galicia y Buenos Aires S.A.

Milbank, Tweed, Hadley & McCloy LLP and Estudio Beccar Varela advised Deutsche Bank Securities Inc. and JP Morgan Securities LLC, as initial purchasers for the international offering and Standard Chartered Bank as lead manager.

Banco de Galicia y Buenos Aires S.A. acted as local placement agent for the offering in Argentina advised by Tanoira Cassagne Abogados.
Legal counsel to Banco de Galicia y Buenos Aires S.A.

Tanoira Cassagne Abogados: Partner Alexia Rosenthal and associates Rocío Carrica, Ignacio Nantes and Tomás Lipka.

Gibson, Dunn & Crutcher LLP: Partner Tomer Pinkusiewicz y associates John Lawrence and Pedro Silvestri.

In-house legal counsel to Banco de Galicia y Buenos Aires S.A.: Gonzalo Braceras, Enrique Cullen and Patricia Araujo.

Legal counsel to the Initial Purchasers
Estudio Beccar Varela
Partner Alejandro Poletto and Junior Partner Luciana Denegri and associates Victoria Pavani and Mariana Labombarda.

Milbank, Tweed, Hadley & McCloy LLP
Partner Marcelo Motessi and associates Kaveh Namazie y Elizabeth McNichol.